Monthly Archives: April 2011

Are your insurance agency clients properly protected if they are in an accident with an Uninsured Motorist?

Each year, approximately 3% of E&O claims against agents deal with the Uninsured Motorist line of business. As you will note in the attached 2011 Uninsured Motorists Study from The Institutes’ Insurance Research Council (IRC), it appears that there are a … Continue reading

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Pearsall elected President of AIMS Society

I am very honored to be elected the President of AIMS (American Insurance Marketing and Sales Society) for the coming year and certainly look to continue the excellent work of Immediate Past President Jim Gosselink, Tulip City Agency in Pella, Iowa. Under the … Continue reading

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Are your Insurance Producers documenting their cell phone calls in your agency management system?

For years, E&O loss control seminars have heavily stressed the importance of documenting the many phone calls that come into your agency. For the most part, agencies have that procedure pretty well in place. However, as producers use various types of technology … Continue reading

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Attn: Insurance Agents – looking to insure a marina?

This is an excerpt from a Rough Notes article that I authored in the March 2011 edition. “As spring approaches, your agency is likely to see opportunities to secure commercial accounts dealing with watercraft business. Marina accounts (which can also be classified … Continue reading

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Are you an Insurance Agent looking to use Social Media? Proper planning and execution is the key

This is an excerpt from an article that I authored in the 2010 PIA National Agency Marketing Guide. “You’ve probably heard the numbers: the overwhelming majority of Americans use some form of social technology. Some suggest that if you are not, well, … Continue reading

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Does your wholesaler have E&O?

There is no doubt that errors do occur in the placing of Excess and Surplus Lines business. Sometimes, the errors are made by the retail agent, sometimes they are due to the staff of the wholesaler and at times, it … Continue reading

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Do you know the latest rating of your carriers?

This is the time of the year when AM Best is extremely active in reviewing carrier financials and updating the specific ratings. For agents, it is certainly very important to be monitoring these ratings for possible action. In many cases, carriers will … Continue reading

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Severe weather & E&O Claims: Is there a connection?

There is an expression often used in the E&O industry: Nothing brings about an agent’s mistake as quick as a catastrophe. One reason is that these catastrophes as they pertain to weather generally impact a significant number of agency customers. … Continue reading

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E&O Claim against agent in the news

Agents E&O hit the spotlight last week as Tom Hanks and his wife Rita Wilson have filed a claim against their agent. This looks like a very interesting case which we will attempt to track to see the final outcome.  Continue … Continue reading

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